Hey Vancouver! Why so miserable?

You’d think that living in a great city would make you happy, but apparently that’s not true for everyone. Southseacompany points out this article about why people in Vancouver and Toronto are so unhappy.

Vancouver is now a place you try to survive as much as enjoy. All the problems are well known, the greatest being the high cost of housing. When you, as a young person, have little hope of making a comfortable life in a city that you love, of course it’s going to cause unhappiness. There is a sense that Vancouver is being yanked away from those who love it most, taken over by mercantilists and arrivistes from around the world who care little about a city’s “soul” so long as the skiing’s good and there’s a place that sells beluga caviar. And then there are those sitting on a lottery ticket with the house they bought years ago, waiting to cash out, and those sitting on a mountain of debt, praying interest rates don’t go up. It doesn’t sound like the kind of environment that would engender a cool community vibe, a place where relationships between people can flourish. And that, I think, is what the survey on happiness has tapped into.

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Inventory is less than 1% higher than it was earlier in the year. I’m glad you think that’s consequential.

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Who cares? It’s still going to go higher and higher.

You and whoracle are morons, liars and smug pricks who are always wrong but spew your belligerence regardless because there are no consequences to being morons, liars and smug pricks who are always wrong.

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You’re using it wrong again. Please learn how you calculate statistical significance before you use the term in a sentence. I know you’re sour from being wrong but learn from it. Bond yield curve has inverted. It’s going to be a baaaad 16-18 months.

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Imagine you were one of the “lucky” people (Chinese, Russian, etc) who were able to get in early and take advantage of our cheap immigration program earlier this decade. You parked your money and watched your money double during the bull cycle and are now seeing a 30% price decline, would you not want to cash out now and liquidate your laundered money to find a better investment opportunity? They are investors with no ties to our community, so they have little reason to ride out a recession.

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The guy who called “heads” tens times in a row is now taking a victory lap and declaring that others are always wrong? Hilarious.

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It’s cute how you sit in your $1400/month East Van shithole telling everybody how clever you are.

Predicting elections is fun, and I never suspected that there were so many racist dickheads in the world. But now I know, and I don’t have a problem admitting that I called it wrong.

But I’ve consistently called this market for years. Knowing how to do a buy vs rent calculation properly really helps, as does trying to consider factors other than those nasty foreigners. But if it gives you pleasure that inventory is a touch higher than it was earlier in summer yet still ridiculously low then please enjoy your little moment. You need this, and I’m really happy for you.

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Fucking loser, I’m not even reading past the first sentence when I see the first thing you do is pathetically mock where I live like the low life piece of shit you are.

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https://www.merriam-webster.com/dictionary/trend trend 1 a : a prevailing tendency or inclination : drift current trends in education b : a general movement : swing the trend toward suburban living c : a current style or preference : vogue new fashion trends d : a line of development : approach new trends in cancer research 2 : the general movement over time of a statistically detectable change; also : a statistical curve reflecting such a change 3 : a line of general direction or movement the trend of the coast turned toward the west

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Actually the trend is down over the last 10 years. No question about that. We are still at historically low levels of inventory for this time of year.

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As for the thread story about happiness…why is it that the 2 most diverse cities are the unhappiest….seems improbable with all the strength that diversity brings…

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Posted on the previous thread for the other reason but perfectly applicable here when talking about “reasons to be cheerful” and “diversity” (when it comes to earning money and paying taxes). Sarah • 6 hours ago I am a retired professional who would not be able to purchase anything more than a condo even if I was still working full time. Even that would put my debt to a rather uncomfortable level, even if I had purchased at the former rock-bottom interest rates. Even two wage earners working to pay the mortgage makes them slaves to their homes. Just because someone owns a home that is worth a million or more doesn’t make them rich anymore. All that “wealth” is locked up in property, even if they own it free and clear (which is highly unlikely), and then your now… Read more »

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Sarah thinks the bottom of the interest cycle might have been an opportune time to buy, so clearly doesn’t get how this whole thing works.

But overall it’s baffling how people define their happinesss by what they own. Everybody craves their own little empire. Let’s see how quickly that perspective changes when prices are falling.

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There’s a theory about the basic hierarchy of needs humans require to be happy. At the base are things like food and shelter. Remove the possibility of secure and comfortable shelter away from people and it’s like kicking a leg out from under a stool. A sense of belonging is also in the hierarchy of needs. Introduce large and diverse groups of people with no intention or interest in integrating or contributing to the larger society and that’s like kicking another leg out.

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I think a lot of people feel trapped here. If you grew up in BC, you don’t really have another ‘big city’ option in Canada. Most BC people won’t move east, purely because of Winter. Other people are stuck here because of family. And then to make it work in this City, you sacrifice disposal income because everything is so expensive. So, it’s Netflix and take out on Friday night in your tiny apartment. Over time, people get sick of it. I’ll say it again, if you’re under 30, move south. You’ll do better in Seattle, Portland, San Francisco, LA or San Diego. Vancouver is done more or less. We sold the City out and it’s never going to be affordable. As time goes on, I think it just gets worse because that’s how we do politics here. Governments will… Read more »

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” If you grew up in BC, you don’t really have another ‘big city’ option in Canada. ”

Most of BC has cold winters you know. There are lots of people who grew in in interior BC living in Calgary.

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I’m talking about 95% of BC. Sure, some guy from Prince George will think Edmonton’s great.

Victoria is the second biggest city and it’s mild, so take those people out.

Kelowna has a colder Winter, but it’s still mild compared to the rest of the country. It’s also a short Winter in Kelowna. I have a house there, so I’ve lived it. People from Calgary and Edmonton fly to the Okanagan in February and March to go golfing, while you can still get snow in Alberta in May. 6 months of hell, versus 2 is a big difference.

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You can have secure and comfortable shelter without buying it. Half of the people in the city do exactly this.

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i doubt all renters feel secure and comfortable about their housing situation among other things…

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Secure rentals used to be available. Now most landlords have turned into greedy scum bags.

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SilentBob – excellent post and perfect description. Diversity is not really beneficial to a society at all.

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“what she was actively trying to encourage, the influx of Asian money into our real estate sector.”

That should be the influx of money, period. No other jurisdiction in North America had so many government policies promoting home ownership, and thus promoting higher prices.

“It really is unfortunate that our former premier had no understanding”

Oh she understood just fine. Right from her campaign for leadership of the BC Liberals, Christy enjoyed unprecedented financial support from the RE industry.

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We know David Eby understands exempting presales from the foreign buyers tax brings in foreign money. And we know Horgan knows exempting credit unions from B20 brings in more money foreign and domestic to RE. And we know Carol James knows legitimizing Airbnb brings in foreign money to RE and displaces local renters.

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Horgan choose to exempt the BC credit unions from B20. It was his decision. BC credit unions are still qualifying mortgages under the old rules essentially making B20 useless in BC. Other provinces have required their credit unions to adopt the same B20 rules for mortgage lending. Horgan did not. Get what he has to do with it? He essentially neutered B20 in BC which is why condos are up 15% over the past year.

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All credit unions in Canada are exempt from B20. B20 is a federal regulation for the chartered banks.

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It is up to the provinces to implement or not. It is normal practice to for the provincial governments to implement the same regulations on credit unions. Hogan chose not to in order to keep the bubble going.

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News flash: NDP regulation of credit unions is unchanged from 16 years of Liberal rule.

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Diverse cities are generally also amongst the largest cities. Large cities are often those with the most inequality and highest prices. Vancouver and Toronto are noteworthy for their cost of housing. But by all means cherry-pick other attributes which suit you.

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“why is it that the 2 most diverse cities are the unhappiest…”

Montreal is just as diverse as Vancouver IMHO, and it’s denser. Yet it’s much happier. Cultural values have a lot to do with it – which includes less aspiration to home ownership, which in turn means much lower prices for those who do want to own.

Getting outside Quebec, the answer is right in the article – “It seems that those who are the happiest in this country live in smaller, often rural areas. The most dissatisfied inhabit denser, urban centres, where there is not the same sense of togetherness and community that you often find in small towns. “

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Realistically Montreal will never be a first choice of immigrants. Toronto and Vancouver will always be the most attractive.

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1. Because most immigrants don’t speak French and don’t want to. 2. There are huge immigrant communities, often including family, in Vancouver and Toronto already.

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And as usual, when confronted with a creditable answer AIDS goes silent.

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>>> what i could never figure out was why she seemed so willing to repay the money with her own personal funds (or so it was structured to appear) when she claimed no wrong doing. since we are talking about more than loose change here, some $7.5M or so, there is definitely a funny odour to all this and it is no wonder the matter is being given a closer look. my guess is they got in the midst of some sketchy dealings without ample time to re-stage everything

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She’ll probably win because locusts respect someone who commits fraud and theft and has no shame about doing so.

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Remember everything is about money and status and driving German cars in this sad pathetic culture.

The more stealing you can do the happier you’ll be. I’m sure she’s got the money stashed in some offshore account.

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she was only providing various “services” for her anonymous clients. i’m sure one of them moved a few million around in the hope that this would all go away quietly. this is usually what happens one develops a smug attitude, gets complacent and maybe even down right sloppy thinking that no one will ever notice or care about all the sketchy activity that has been going on.

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The have-nots always try and justify their own economic position by trying to persuade themselves that others who are perhaps better educated or harder working or more entrepreneurial are merely cheats.

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Ms. Hong Guo is the exactly an outmost example to support your conclusion.

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Better educated? That is why they all come here to go to school. Harder working? The few that work here are in real estate. Hardly considered hard working. Entrepreneurial? Yes like a drug dealer is entrepreneurial. They only do what they can cheat at.

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Think harder, then reply. That’s my advice to you.

All immigrants come to Canada to study? Those who don’t are RE agents or drug dealers? Get real.

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Ralph didn’t say “all immigrants” he was very specific and within the context.

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I was replying to YVR. I thought that was made obvious by the fact I used the “reply” button under the post I was replying to.

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I was not referring to all immigrants either. You know which ones I was referring to. The ones without jobs who live in multi-million homes, the ones who drive Lambos with N stickers to UBC and the ones that work for New Coast. Maybe you fit in there?

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NDP will rescue the housing market.

I’m abstaining from voting in the PR ref. Hope Horgan and Weaver get a forced retirement. They’ve lied too much and are leading the minions on. They could have completed their election promises by now.

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“-0.36% Vancouver Terranet number for August”

The price declines we’ve been seeing here for the last few months are now working their way past Teranet’s built-in delay. Expect continuing declines for the rest of the year.

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Yeah they’re acting like they’ve never seen a real estate implosion before. We had a front-row seat for one of the biggest real estate crashes ever in 2008 and all the moron bulls will probably still be totally flabbergasted once our crash kicks into high gear. Going to have to try not to laugh when all my coworkers and friends start complaining about their underwater mortgages.

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Yeah, that is odd given that Richmond is famous about the people who are better educated, harder working and more entrepreneurial.

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I’m pretty sure it’s all the Chinese satellite families declaring no income that are dragging down the average. Our tax system is laughably easy to cheat. Hopefully China’s willingness to share tax data with other countries will help to crack down on all the scumbags.

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Surprise, surprise, in a city populated by grumpy bears and pessimists who are too lazy to do anything beyond being keyboard warriors, we are told the city is miserable and losing its soul. Well duh!

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Vermin from PRC ruin everything in this country.

Another program monopolized and abused by the worst “people” on earth.

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Naturally the mainland pigs were at first belligerent, until the publicity became too much to bear and they issued a fake apology.

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“[Tuc] has been sent to save his planet from ruin since climate change started happening there,” Sinclaire said. “But he finds himself in trouble when he arrives on Earth and tries to steal all of Earth’s chocolate.”

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Inventory has broken out from the 12,900 level. Needs to hit 15,000 before it become significant. Will the NDP push it there with a surprise housing announcement?

Not a chance.

They are secretly hoping the vote fails.

40 days left till voting starts. 75 days until we know whether and election will be called or not.

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+90

Whoreacle, you want to take another crack at predicting when inventory will peak this year?

You can take another 10 cracks at it if you want, there’s no penalty for being wrong all the time.

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Big stuff happening on Whistler.

Weaver showing his true colours. He is threatening to bring down the NDP over he Speculation Tax.

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Not reasonable at all! Weaver just wants to protect his equity. His suggestions wouldn’t do anything to effect prices.

We all know it’s foreign money brought in by recent immigrants buying multiple properties that is the cause.

Foreign buyers nowadays is a small fraction.

In any case, looks like Weaver paid off to have Referendum fail by forcing a vote before the referdum.

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I haven’t heard a damn thing out of Weaver for the last 6 months, it’s as if he doesn’t exist.

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“We know what the problem is. We know the source of the problem,” Weaver said. “There’s been a lot of offshore money flowing into Metro Vancouver … what that has done is driven up speculation. “It isn’t like we haven’t seen this coming, but what it requires is bold leadership and strong public policy.”

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Weaver said he does not support the government’s delaying of ride-hailing for another year nor its new policy that workers on major government projects like the Pattullo Bridge replacement must join unions to be eligible.

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MAY 15, 2018: “B.C. Greens and Richmond residents call for provincial action following council vote on ALR”

“Mega mansions on ALR land are imperiling our food security, destroying agricultural land and driving up prices well beyond the reach of young farmers,” said Andrew Weaver, leader of the B.C. Greens in a press release.“ The provincial government has a number of tools at its disposal that it should immediately use to address the issue of speculation on ALR land. These include restricting foreign ownership of ALR land, applying the speculation tax and foreign buyers tax to the ALR or creating legally binding house size limits.

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“Andrew Weaver chastises NDP government for not closing housing-investment loophole”

Weaver demanded to know why the NDP hadn’t closed this “loophole”, which he alleged was “so big you could drive a bus through it”. “Please let me remind you that when the attorney general [David Eby] was in opposition, he was a very fierce critic of the B.C. Liberal housing policy or lack of a policy on affordability,” Weaver said. “Indeed, a year ago he told Reddit, the readers of Reddit: ‘We need to eliminate what’s called the bare trust loophole in the property transfer tax where these properties can transfer without property transfer tax paid. It’s costing us literally hundreds of millions of dollars, hundreds of millions that could be used for affordable housing initiatives.’ ”

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“Greens push tough housing policies”

extending the foreign buyer tax to apply to presales and agricultural land

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And Eby hasn’t done anything. What policy is in effect? Who has been charged/jailed?

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Just a friendly reminder not to lie…because they’ll find out about it….not like before when it was perfectly fine to lie.

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Check out the comments – they actually discuss RE there rather than peddling far-right crap.

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You wouldn’t last 5 seconds there.

COMMENT POLICY: We encourage you to have a civil discussion. Note that reads “civil,” which means don’t act like jerks to each other. Still unclear? No name-calling, racism, or hate speech. Seriously, you’re adults – act like it.

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You clearly approve of racism and hate speech.

But yes, moderation works. Well done for noticing, genius. I bet you’ve already been banned.

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The NDP rent increase is going to cost youbiver $1000/year. Before you Minions babble on about this was law, NDP could have changed it after almost 1.5 years.

Keep rooting for them. Hahaha

And keep rooting for Weaver who is going to bring down the Spec tax. Hahaha

At least Christy brought in a tax that stopped the market in its tracks. These guys have been all talk and not one significant policy is in effect yet.

What a bunch of liars. No wonder they haven’t sold their own investment properties.

Will be happy to see the referendum fail. Kick these guys out. #failure

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You’re blowing your cover Oracle. Keep cool buddy. You have to keep up the act that you’re a renter that wants lower house prices; not a real estate mole that secretly wants the Liberals to come back in to power and bring back money laundering through our Real Estate.

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Have you been here long enough to realize I’m the guy that wants a 50% crash?

Don’t buy the BS of trolls here. I atta k their positions because they are too timid. You have to force the Greens and NDP to take action. Not get complacent.

I need to see results before I give the NDP a pat on the back. So far nothing.

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That’s the character that you play. In this movie, your character wants a crash but preaches policies that re-inflate housing. You are the BS troll.

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The NDP have failed big time in making YVR more affordable.

Taxes are up, gas prices are up, car insurance is up, condos are up, rent is up. The only thing more affordable is MSP, but that came off everybody’s pay raise for the year, so it’s a wash.

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You forgot Hydro and child care. Yup, one term wonders. There is a reason they lost 5 elections in a row and desperately want PR. Flunkies.

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LOL, They promised $10 a day child care for all kids. Not a few hundred kids in an 18 month pilot program. You seem to like being lied to.

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Apparently, those rich homeowners are finding out that rents can only go so high. I wouldn’t worry too much about further rent increases.

“However, as the real estate market begins to slow, while simultaneously new construction ramps up (currently at all time highs in Vancouver), vacancy rates increase and rent prices begin to fall as an abundance of new supply overwhelms the market.”

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Don’t tell Oracle. He believes that rents have detached from incomes. The can only go up at 15%!a year.

“Haven’t you heard? Its $2700 for a 2 bedroom basement suite in Abbotsford and you have to give the landlord sexual favours!”

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My sources tell me he was late for a strata meeting where they were voting on whether all future meetings should be held in mandarin.

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Confusing, the reason for speed matches the mindset of a typical locust but on the other side, they don’t drive such “cheap” cars?

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Yeah the verticality is likely going to start accelerating to the downside. First the sales will run nearly dry (right about now), then the listings tsunami arrives.

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+93

8 of the last 9 days price changes have exceeded sales.

Last time there was a day of sales this low in Sept was 2012, but at least there was a 100+ sales day by Sept 10th. We haven’t had one this year.

Next week’s sales numbers are important because of the lag in reporting, much of what we’ve seen so far was sold in August.

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I don’t know how many years Cameron Muir has been entertaining us, but he’s still as funny as ever.

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up, down, or sideways. It is always a good time to buy a house according to a realtor.

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Downturn? What fucking downturn? Jesus this city and this market is bloody perverse. Aside from westside high high end not much has been “down”.

God I hate the RE attitude in this city. If it’s not going up 20% a year it’s a downturn. God how I wish for a crash and to let Rome burn.

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If Vancouver 1 bed condo prices stay where they are then pretty soon they’ll be showing a 10% drop over the preceding year, at least according to Zolo.

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They’ll do whatever they can to get on the fence sellers to wait another 6 months and on the fence buyers to jump in. One of their favourites is saying our forecast is for a drop in prices of 2.34578% in 2018 following by an increase of 5.38463% in 2019.

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People’s Party of Canada. Please support.

Please donate $100+. You will get a 75% refund when you file taxes so only costing you $25. If we can get everyone to support, we will have a war chest against the elite.

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And please follow the party on twitter. United we prevail, divided we fail. Canada’s future is at stake.

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It is. And support Max is a sure fire way to hand Trudeau another majority!

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I don’t like the Liberals and I’d hate to see them win another election, but really, the conservative party is pretty much same when it comes to immigration, which is the reason why Max left the party in the first place. We need to vote for Max in order to get the attention of the other parties that Canadians wants less immigration. Hopefully he’ll get enough seats to be a power broker in terms of creating a coalition government.

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Oracle wants to split the vote to keep Trudeau in power and keep the immigrant stream flowing.